The former home of 1987 Kentucky Derby winner Spendabuck is heading to auction early next month with the potential for redevelopment, The Real Deal has learned.
Circle S Farm, a premier equestrian training and breeding farm in Southwest Ranches, will be auctioned starting at $19.7 million on June 18, Coldwell Banker’s Giselle Bonetti told TRD, but could be sold before then.
Giselle Bonetti, Coldwell Banker
The 48-acre estate, reportedly the largest remaining private lot in Broward, includes two single-family homes, staff quarters and two studio apartments, three barns, 98 stalls, a four-furlong racetrack, an equestrian pool and a surgery room. It’s located off of I-75 near Weston.
The property, which includes nine bedrooms and six bathrooms was originally listed for $35 million in 2013 but dropped the price. The farm, at 15990 Griffin Road, was built in 1970, Broward County property records show, and it’s surrounded by developed land.
When it was originally listed for $35 million, “I realized that 90 percent of interest came from builders or developers,” Bonetti said. “There’s an opportunity to build one home per acre, so there’s an opportunity to build 38 to 40 luxury single-family homes.”
The owners, Ralph and Betty Sessa, acquired the parcels in the 1970s, Bonetti said. Their children are selling the farm, which is fully staffed during high season. The farm is also home to Heckofaralph, which ran in the 2000 Kentucky Derby.
South Florida is home to pockets of horse country: Wellington in Palm Beach; Davie and Southwest Ranches in Broward; and Homestead and Kendall in Miami-Dade.